Any other considerations when looking at buy/hold new construction that may be different than older rentals?

The other important considerations I made was that it was currently rented and is under rented for the market.

Septic systems are something to be considerate of owning property near the ocean.  

In two sentences you suggest you're the sole owner while in another you say it's a family investment.For a 4 million dollar asset it's worth it to talk to a good CPA that will take into consideration your facts, circumstances and goals. 

Because there is a considerable amount of equity available I would like to refinance once I have tenants established and use the cash to then apply towards purchase of my next buy and hold property.However the couple financial institutions that I spoke with and currently have relationships tell me that the home will need to be in my name and not an LLC. 

I appreciate what you can share and thanks for the consideration.

Sounds like they just tried to get on the front foot a bit regarding something they might not have much experience with.Remaining impartial is a protective measure but where I live the social approach to DV has changed considerably in the last few years but mine has not.

So when a buyer doesn't meet this commitment they are sent a written notice they failed to meet that term of the contract and then I sell to someone else.afaik without a promissory note or EM deposit, technically there is no contract as they have not given any "consideration".https://www.law.cornell.edu/we...

I've also seen people use anywhere from 5-10%, most commonly 8%.Also, what I don't think the calculator takes into consideration and you might have to deal with is leasing fees.

The deal is still fine I made sure there was a considerable cushion in the numbers, but the issue was the amount of time I have been putting into this house had made it to where I cant look for other deals or find other sources of income.